Martha Turner shares market insights at NAREE Conference

Updated 4:47 pm, Thursday, June 19, 2014

Photo: DANIEL ORTIZ PHOTOGRAPHY

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Martha Turner, founder and co-president of Martha Turner Sothebyâs International Realty, shares her expertise in the luxury home market at the National Association of Real Estate Editors Conference held last week, June 11-14, in Houston. less

Martha Turner, founder and co-president of Martha Turner Sothebyâs International Realty, shares her expertise in the luxury home market at the National Association of Real Estate Editors Conference held ... more

Photo: DANIEL ORTIZ PHOTOGRAPHY

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Martha Turner, founder and co-president of Martha Turner Sotheby's International Realty, shares her expertise in the luxury home market at the National Association of Real Estate Editors Conference held last week, June 11-14, in Houston. less

Martha Turner, founder and co-president of Martha Turner Sotheby's International Realty, shares her expertise in the luxury home market at the National Association of Real Estate Editors Conference held last ... more

Photo: DANIEL ORTIZ PHOTOGRAPHY

Martha Turner shares market insights at NAREE Conference

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Martha Turner, founder and co-president of Martha Turner Sotheby's International Realty, shared her expertise in the luxury home market at the National Association of Real Estate Editors Conference held June 11-14 in Houston. The 48th NAREE Conference took place at the Westin Galleria and was attended by real estate editors, writers, economists and industry professionals from all over the United States.

Following the adage that all real estate is local, Turner, Segal and Malpica agreed the price point and amenities that constitute a luxury home differ from market to market. Segal placed the price point for the luxury market in Los Angeles at $4 million and up. In contrast, Turner stated the Houston luxury market begins at $1 million "but we may soon pass that." Malpica noted outside of metropolitan areas, the luxury price point starts at $500,000.

According to Segal, popular amenities in Los Angeles' luxury market include media rooms but interest in fireplaces and home elevators has waned. Turner said media rooms are no longer a hot item in Houston but home elevators, particularly in multistory structures, remain popular. All agreed generators are popular across the country. Malpica said as Millenials enter the luxury market, enhancers such as waterfront or country-club properties are more in demand.

"This was an extremely productive conference for all of us," said Turner. "Outstanding information was exchanged by all the panels, and I was amazed at the number of real estate editors who attended from all over the country. It's nice to have Houston in the spotlight."